All posts tagged Canadian Finance Minister

Heading into the Victoria Day long weekend, the economic calendar is light in Canada – save for Friday’s release of manufacturing data. Corporate earnings season is still underway, with earnings expected from a number of big Canadian companies.

Statistics Canada releases data for March factory shipments on Friday. Factory sales slumped 3% and 1.7% in January and February, respectively, but early consensus is for a rebound in March. That’s based on the performance of non-energy exports as highlighted by trade data earlier this month. Read More »

The Canadian economic calendar is heavy this week, with the latest household debt figures, manufacturing data and inflation numbers all due out. Housing will also be in the spotlight, with existing home sales figures expected Monday. Finance ministers from across Canada will meet in Ottawa on Monday to discuss the global economy. On the corporate side, BlackBerry Ltd. will be front and center this week, with both a phone launch and quarterly results. Read More »

He heads into the update with a bit of a tailwind on his side, buoyed by an upturn in economic data. Exports rebounded in September after a decline in August to help push Canada back into a trade-surplus position for the sixth time in the past eight months. Statistics Canada revised upward data on the country’s gross domestic product for the first six months of 2014. And, most important, the economy added jobs in October at a faster-than-expected clip for the second straight month.

“We are seeing early signs of the Canadian dollar depreciation playing its role in rebalancing the economy,” said David Rosenberg, chief economist at Toronto-based asset manager Gluskin Sheff. “Forecasts of either the demise or collapse of the Canadian economy just seem a little off base,” he said. Read More »

The week kicks off with the latest data on Canadian housing starts from Canada Mortgage and Housing Corp., due early Monday. RBC is projecting a slight increase in October, to about 200,000 starts on an annualized basis, given recent strength in building-permits data.

Canada’s Finance Minister Joe Oliver is set to unveil the government’s annual fall economic statement in a Toronto speech on Wednesday. Read More »

Corporate earnings begin to wind down this week, but a few big Canadian companies are still scheduled to report. Also on tap, Canada’s Minister of Finance has a press conference scheduled in Quebec on Tuesday and in economic news, Statistics Canada is scheduled to release the latest data on manufacturing on Friday. Read More »

Joe Oliver is widely expected to be named Wednesday to manage Canada’s finances, replacing long-time finance minister Jim Flaherty, who resigned Tuesday. Mr. Oliver, who is moving to finance from the natural resources portfolio, will have to finish the job Mr. Flaherty started in bringing Canada’s books back into the black. Here is a look at some of the new finance minister’s key challenges. Read More »

“There is nothing in this budget – this is all about setting up for next year’s budget.” – Thomas Mulcair, leader of Canada’s official opposition, the New Democratic Party

“There is no plan for growth. These guys have demonstrated that they are out of ideas, out of vision, out of a plan to help Canadian families move forward. They are trying to cut their way into growth. ” – Justin Trudeau, leader of the Liberal Party, and leading most public-opinion polls.

Regarding the 2014 Federal budget, I was pleased to see a push towards finding efficiencies to balance the books – Toronto Mayor Rob Ford via Twitter

“Balancing the federal budget and maintaining discipline to pay down the debt are not only the right things to do, they are essential for Canada’s global competitiveness,” said John Manley, former Canadian finance minister and president of the Canadian Council of Chief Executives. Read More »

Canadian Finance Minister Jim Flaherty promised a stay-the-course budget for 2014, and on Tuesday, he largely delivered. There was a bit of money made available to create jobs, build infrastructure and get high-speed Internet to the remote parts of the country.

But Mr. Flaherty’s focus was on moving Canada toward a budget surplus position – a rarity for central governments in the developed world – in 2015, or just in time for the governing Conservatives to hit the campaign trail.

Here are the five main takeaways from Canada’s 2014 budget. Read More »

Canadian Finance Minister Jim Flaherty hit the broadcast television circuit over the weekend to offer some hints about what will be in his Conservative government’s 2014 budget, due out Tuesday.

He reiterated the budget will show the country is on track to hit a surplus in 2015, but also dropped a few hints about what else to expect, including spending on infrastructure and job-creation initiatives.

Before this weekend, Mr. Flaherty — the longest-serving finance minister of the Group of Seven economies — and other Conservative ministers have signaled that the budget plan would be thin on major spending and tax-relief initiatives, and focus squarely on the size of the budget deficit. The Conservatives are banking on recording a surplus in the fiscal year beginning April 1, 2015, or around the same time they head to the polls to seek a fourth-straight electoral mandate.

But Mr. Flaherty’s weekend rounds with the three main English-language broadcast networks indicated the government’s cupboard isn’t entirely bare, and there will be some money — how much is unclear – for a few initiatives. He also talked about what to do with the anticipated budget windfall in 2015. We take a look at some of the key takeaways. Read More »

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Canada Real Time provides insight and analysis into what’s making news in Canada, a country punching above its weight on the world stage thanks to its vast resources and strong banking sector. Drawing on the expertise of The Wall Street Journal and Dow Jones Newswires, we take a look at developments in fields ranging from business to politics to culture. You can contact the editors at canadaeditors@dowjones.com